The Federal National Mortgage Association, known as Fannie Mae, was created in 1938 as part of FDR’s New Deal.
In 1954, an amendment was passed that allowed Fannie Mae stock to be purchased by private investors.
In 1968, the company was completely privatized in order to remove its debt from the federal budget.
In 1981, the company issued its first Mortgage Backed Security or MBS.
In 1999, the company began to offer mortgages to low and moderate income families due to political pressure from President Clinton.
In 2003, the subprime mortgage crisis began and the company was thrown into turmoil.
In 2008, the company was placed under control of the Federal Housing Finance Agency (FHFA).
In 2010, the company was removed from the NYSE.
Today, Fannie Mae is the largest player in the US secondary mortgage market.
Fannie MaeThe Federal National Mortgage Association, known as Fannie Mae, was created in 1938 as part of FDR’s New Deal.
In 1954, an amendment was passed that allowed Fannie Mae stock to be purchased by private investors.
In 1968, the company was completely privatized in order to remove its debt from the federal budget.
History
In 1981, the company issued its first Mortgage Backed Security or MBS.
In 1999, the company began to offer mortgages to low and moderate income families due to political pressure from President Clinton.
In 2003, the subprime mortgage crisis began and the company was thrown into turmoil.
In 2008, the company was placed under control of the Federal Housing Finance Agency (FHFA).
In 2010, the company was removed from the NYSE.
Today, Fannie Mae is the largest player in the US secondary mortgage market.
Very Deceptive Company. I got a Fannie Mae guarantee loan for the purpose of the protection that they offer to purchasers. I found out they sold my loan to a loan company that I have no contact with or know nothing about. In my 20 yrs working in the industry, I was told that Fannie Mae loans were secure because they were backed by the Federal government. Tax payers’ money bailed them out from the 2008 crash but they can sell your loan to loan sharks and excuse themselves from protecting the consumers. There is no benefit to getting a fannie mae loan at this point so in the future, as a consumer work with you small banks and credit unions.
I fell and got a injury on one of fannie maes properties made several complaints have been treated very poorly. I am very unhappy with the customer service I have dealt with and will be taking matters into another direction because of the experience I have had.
Why am I writing this comment? I really don’t know since in my case I think it is too late and your company don’t really care it is all about profit! Profit! PROFIT!!!
Thanks to one of your mercenary Loan Shark SETERUS the very worst mortgage company around our house of 26 years is about to be foreclosed on… just because we had a hurricane season and they offered the 6 months disaster relief plan we accepted it, and used the mortgage payment for repair while waiting on the insurance company to fix our property and refund us the money we used to make the place livable!!! It’s been almost a year now since the Hurricane and no settlement from TOWER HILL a lot of Floridians brought the fake caring from the mortgage company and a lot of us are being foreclosed on because we’re not qualified for their LOAN MODIFICATION, REPAYMENT PLAN, OR ANY SCAMMING PLANS ANY OF THE MORTGAGE COMPANIES WERE OFFERING!!! My house is a mess, Seterus/You are foreclosing on me and there’s nothing I can do because you are the big corporation you can get away with anything and screwing the little people over is what you people do best!!! I have a petition and I’m about to create a Facebook page for every homeowner that all of you screwed over to signup and right now I am facing homelessness because of your scamming hurricane relief which was a joke and Seterus shady business practices I don’t have the money to get my house out of foreclosure so now I have to look for a storage to back up my stuff because of FANNIE MAE & SETERUS INC.,
Thanks for being the crook that we’ve always known you to be SHAME ON YOU
To Whom it May Concern:
I am writing in regards to a property I saw last fall with my realtor. The property was under the real estate agent Earle Kenney. The home has been through foreclosure and has not been lived in since 2010. It sold at auction from my understanding to the Federal National Mortgage Association and sale was amended May 4th. The Property is located at 1978 Hill Rd., Canaan, ME. 04924 REO: P1707VR. I have contacted Fannie Mae a few times and only told to watch for it on the HomePath.com website. Which I have been doing daily. And it only reads “Not Available”. My question to you is, will this property be going back on the market in the close to near future? . This house is sitting there rotting which in turn is going to cost more money to repair.
I am a single mother of 4 kids, 2 young boys still at home. We are temporarily living with my elderly parents in the same town. I grew up in Canaan and so have my children. I want so much to be able to keep my children in their same school district and be able to stay close to my parents so that I may help take care of them. My children and I have been looking for a home since last fall. There are no homes available in Canaan and nothing seems to suit our needs like the Hill Road home. We absolutely saw ourselves living there and making it our home the first time we walked through.
I have been through the First Time Home Buyers class, I have money saved and I have been pre-approved for a Home Mortgage loan. I am willing to put down earnest money if need be. I have a close friend who is a building contractor and is willing to help with any work that may need to be done. If there is any possible way to find out the status on this property or when and if it will be available, it would be greatly appreciated. My children and I desperately need our own space and home. If I need to look else where for a home I will do so, but until I know for sure I do not want to give up on the thought of this one quite yet. If I have not sent my plea to the correct person or persons, I ask that you may help me do so by passing this on. A phone number or email address to the person or persons that deal with the properties in this area would be helpful. And please do not to the Resource Center, that is no help.
I thank you in advance for your time and effort.
Sincerely,
Melanie King
Hello my name is Mr.Goins Client Relations Manager for INJ Management / Waste Solutions we offers over twenty different services in the REO property preservation industry we are writing to request information about becoming a vendor and receiving REO project through Fannie Mae from the banks you service .
Willie Goins : Client Relations Manager
Phone 585-285-3971
Fax 585-270-4097
Email:twinj3939@gmail.com
My mortgage contract has an incorrect property description which Wells Fargo refuses to correct. Wells Fargo would rather foreclose than make a simple correction. My loss in real estate and personal property $300,000. There must be far more money to be made in foreclosure than in the interest rate of the loan.
I am a renter of a home that was foreclosed on and it is now in Fannie Mae’s hands. We live in NJ. A management company was hired by Fannie Mae to make inspections, take care of the property, and collect the rent. They emailed indicating they were honoring our lease with the prior owner. Our lease ends July 1, 2016. Fannie Mae called me last week Tuesday and told me they did not know about the lease and since they didn’t sign it they don’t have to honor it. I explained how the company they contracted told us it was to be honored I didn’t understand why I was being asked (not in writing, never receiving a legal doXXXXent) to leave the property. They even said they may not let us stay until July 1, 2016 when the lease accepted by Cityside Management indicated.
I live in NJ and it is a “Just Cause” state, which means you cannot be asked to leave without a just cause. And only the court can determine if the reason to evict is a just cause. Again we have not been given any notice legally and they have no reason. We have been verbally told to leave by July 1, 2016 for Miriam at Fannie Mae. However, they want to come into the home to inspect it (which I’ve never stopped them from doing in the past – I’ve always worked with them). If the house is deemed ready to sell, then they will allow us to live in the home on a month to month basis until they can sell the house. BTW this is after being threatened with eviction on two occasions by one of the inspectors. Both incidences were reported.
I contacted the NJ Landlord Tenant Association who believes we cannot be asked to leave without just cause – which is how I understood the law. If we are evicted illegally we can file suit against the landlord (which in this case is Fannie Mae) for three times the damages plus reasonable attorney fees.
Why am I constantly being threatened by Fannie Mae? I’ve explained how I know my rights, yet they continue to threaten us. We’ve lived in this house for just over 8 years. My children are in high school. We cannot find a home to rent in the school district. I don’t want to remove my son since he will be going into his senior year. I have no problem having a realtor show the house. And if it is sold, given proper notice, leaving. But they are not even giving us that option. I’m not worried about the house being sold; therefore, I’m comfortable to stay in the house and maintain it – and pay the rent, which I have been doing. Why do I think the house won’t sell? We live in a commercial area on a busy highway. The business next to us took 8 years to sell and the owner has been trying to get someone in to rent for at least 3 years. There is a house next to us on the other side, which is a literal dump – rusted out cars without tires. Piles of tires scattered around the property. And garbage everywhere. Until recently, they had tons of stray cats they were feeding. At times there would be anywhere from 20-50 cats who defecated all over the near by properties. Finally animal control came several weeks ago and took the cats.
I’m willing to pay rent, maintain the house for Fannie Mae to sell, which gives them time to deal with the town to have the neighbor mandated to clean his yard since it has to be in violation of some type of law.
So, at this point we are being told that if they deem the house worthy of selling without repairs we can stay month to month. Ok, I get that. But I fear they are going to say they need to make repairs and kick us out. Even if repairs need to be made, there is no just cause to send us packing. BTW, no visual repairs are needed as we have taken care of the home to the best of our ability without having a landlord to make any repairs. We did as many as we could with our own money.
If Fannie Mae truly reads this, I hope you stop telling us you are going to make us leave without just cause, which needs to be done through the courts. With the information provided by the NJLTA I will be contacting an attorney today to see about taking Fannie Mae to court based on their threats and so that we can remain in our home until it is sold.
My house is connected to one of Fannie Mae’s properties. The house is filled with mold and had five feet of water in the basement. That water ended up in my house along with the mold. There was so much water coming in my house that all three sub pumps blow.
It took three day to get that water out. Fannie Mae fefuse to pay for the damages to my property
For more than 4years now I have been trying to buy my property. I tried to pay for it before the the foreclosure, during the Foreclosure, after the the Foreclosure and during the 3 years of litigation with the mortgage sevicer for not letting buy the property. Now the servicer is settling and still I can’t get anyone at Fannie Mae to talk to me about the property.. The property has gone into a serious condition of disrepair. What is the problem? Is it your intent to let the property rot to a point that nobody will want it. I have filed complaints with HUD, my Congressman’s Office and the following is my complaint to the CFPB:
COMPLAINT TO CFPB
Fannie Mae No Response
This involves a reverse mortgage that was foreclosed on wrongfully. I have been in mitigation with the servicer that’s OneWest Bank, N.A. I’ve been in mitigation with them for 31 months now and we’re coming to an agreement. And the court is giving us 31 days to finalize the agreement but I need information from Fannie Mae to finalize the agreement. I need to know what they require for me to purchase the property. I have been unable to get a response from Fannie Mae. I’ve called the main number for Fannie Mae who referred me to the agent handling the property, which was 214-242-8104, who referred me to the realtor who was handling the property, Brian Busby. I spoke to him once, he said he was going to call back in 15 minutes and that was three weeks ago. I’ve called him every day since and left messages but he never returned my call. I spoke again to the agency responsible for taking the property at the 214 number which is REO Management. They referred me to another number 281-719-1700, and they told me that the property was still on hold. I’ve released it from the litigation and it’s on a hold but Fannie Mae still has it on their own hold but is not for sale. They told me I needed to go back to the main number for Fannie Mae, which I did that. They escalated it and connected me with Willy at extension 2314. I spoke with him several times and he basically told me he can’t tell me what they need to do to sell the property because it’s on a hold and that’s all he can tell me and that I needed to get back with the management service to find out more. So I went back to REO Management. When I spoke with them they said there wasn’t anything they could do because it was on the hold and there was a note with the hold saying that it was to be held for sale to the previous owner; that’s me, the previous owner. They couldn’t tell me who had the hold on it, they said I had to go back and talk to the legal department with Fannie Mae and they referred me back to the main number at Fannie Mae. When I called them and told them I needed to talk to the legal department, they said they don’t have one. So I asked them what to do, what do I do, I’m referred to the other department and they don’t have one. And then they referred me back to the REO Management, there was nothing else they could do. So I called Willy again at extension 2314 and he said I can only contact them by email and that was resources_center@fanniemae and then put it attention Legal Department. And I’ve been sending them emails since last Wednesday. I’ve gotten two responses back, both said the same thing. And the response I get back from them is, “In order to better assist you, your email has been forwarded to the appropriate party here at Fannie Mae. Please be assured that it will be handled appropriately. If you need additional assistance, please call Fannie Mae Resource Center at 1-800-732-6643. ” That’s the main number I’ve been calling since day one. It’s the same thing every time I call I them. Nobody knows how I can purchase the property and it’s on hold and I don’t know what to do. They won’t refer me to anybody and say there’s nobody above them to talk to, so I’m talking to you. I just want to know how to get my property back. It was wrongfully foreclosed and now we’re settling, and I just want to get my property back. I have spent three years, thousands of hours, and thousands of dollars and I just want to get my property back. They’re not giving it back, I’m buying it back and their servicer is giving me the money to buy it back if I can know how much it is.
I don’t know where to begin so I’ll start off with my name. My name is Lynette. I was approved for a USDA Loan and have been looking for homes for about a year now. First and foremost my ex realtor was amazing in the beginning. I wouldn’t have gotten as far as I got if it wasn’t for my previous realtor, things happened that I wasn’t happy with that made me want to part ways after the deal fell through on a house a wanted.
Long story short I was shown a house on Naomi St and loved it, it’s in the area I love and I’m close to my mom. I put an offer on the house to my surprise it didn’t appraise for what I thought it would. I have a USDA Loan although I was approved for 105,000 because the house only appraised for 96,000 I get 100% of what the house is worth since my offer was 95,000 that left 1,000 toward closing cost, which left a remainder of 1,200 I still had to pay in closing cost that I had to pay out of pocket , I had to pay 1,200 for insurance out of pocket , and I had to pay for appliances because there was no appliances in the house, I paid for a home inspection and I would of had to pay for a pest inspection as well which I had the money for everything I needed . So when the home inspection came back and they stated mold, foundation issues and plumbing problems I asked my realtor at the time to ask the seller to fix the issues which was about 3,000 or instead of 95,000, except an offer of 90,000 so I could include the repairs in my loan to have everything fixed but my offer was rejected.
I had to have a couple things before USDA would order the appraisal they would not order an appraisal until they had everything they needed. I had everything except the deed. The deed was not sent until 2 weeks after I signed the contract, in my contact it stated I had to have an appraisal within ten days of signing, which was impossible because my previous realtor stated she requested the deed several times from Fannie Mae but it was not sent, so Fannie Mae tried to keep my Earnest money. I had to fight to get my money back due too my realtor and Fannie Mae negligence. After Fannie Mae refused to fix anything although according to my previous realtor they had just fixed the plumbing issues but the inspector found issues and I had a plumber come to the home as well. I know most foreclosure homes are as is. I was told by my previous realtor Fannie doesn’t budge on the price or fix anything but I said all I can do is ask, this is the the beginning when I submitted an offer they went down from 99,000 to 95,000 and I was told depending on the home inspection they would consider fixing any issues but I guess they decided 3,000 was too much to fix. After losing my home inspection money and being denied I started over looking for houses a week later the house I wanted dropped 14,000 dollars now I’m confused, mad, and happy all at once. Confused and mad because they wouldn’t go down 5,000 dollars so I could have the repairs needed included in my loan, or fix the issues, Happy because now I can make an offer and have everything I need fixed so I offered full price they denied me stating I was just under contract so I thought I would send a letter pleading my case because I feel my realtor had alot to do with me not getting the house because of some complaints I had against her I wasn’t sure she was honest and I didn’t think she wanted me to have the house but no response from the realtor representing Fannie Mae actually it’s funny the realtor selling the house for Fannie Mae works for the same company my previous realtor works for! I wanted this house! I think it’s sad the way this turned out and the people Fannie Mae has working or representing them
Hello, If a person buy a house in the state of Illinois ,are they responsible for a percent of the last owner debits? Please explain this to me. think you for your time Denise
To CEO Timothy; My name is Pamela Threatt, I have situation that I know has never come across your desk. I was told that you hold the loan on my property at 620-624 Maryland St., in Gary Indiana. My house was torn down by the city of Gary. I am still paying the mortgage since 2010 when the house was torn down can someone help me.I am retired on disablity.
I’m not sure if this is going to be read by those I need to have read it but I have to try. I have worked so hard in my life to be able to buy a home. I have three beautiful children and a lovEly wife. To keep this short, we found a home we love and want our 4 year old to grow up there. We Saw it, we put an offer in to buy it, it was accepted by the homeowner and sent to bank of america to accept. Well, by the time the next day came around the home wasset in motion to be foreclosed. We were sad and we’re told by many agents that we have to wait until it returns to the market. I didn’t want to lose it so I found 10 emails for higher execs for Bank of America. I told them the story and I guess the right people heard it. I dealt with a man in the highest position for my quest. An offer again was made and basically an issue of my mortgage company had to have admittance to property for a mortgage. I worked so hard to get to that point and it all started with just a few lose hours late to only one issue to buy our dream home. I offered a sheriff to be with me, i offered to sign a waiver of liability, i offered whatever they want so I can get this one thing, an appraisal. I’m reaching out to the top execs of fannie mae for their help. Most stories end with people losing their home. I just need your help buying our home. Our mortgage has been approved and all our ducks in a line but we need your help in letting us into this home to appraise. The nights are getting cold and tonight is not an exception. It’s 30 degrees and that dangerous to a home with pipes full of water and no heat. We want this home but need an email or contact of some execs. I’m only doing this because I love my family and I want my 4 year old to grow up in a peaceful neighborhood and in a house we call home…help!
I know how all of you feel and my prayers are with you all. It has come to the point where Bank of America has gained control over our own government. Our case is currently in investigation with Fannie Mae. I am waiting to see if there truly is justice somewhere in the line of authority over there. Our family has gone all the way to help them see the clear picture with 10 years of evidence handed to them. I had to research, read and teach myself to get our family to where we needed to be and hand this over to our government officials. Our family went through every government organization set up that supposedly was to help oversee banking. Went through every one and had doXXXXented proof and they all failed. Once you can prove they all failed then the Government is the one that needs to answer to these claims. We actually have a recording of a gentleman who was sent over by one of Fannie Mae/ Realtors/client to show our house because they were trying to sell it quickly because we were fighting. The person the realtor was showing the house to was a family member of ours. There was a big sign in the front yard because the property line runs along side with our in laws so it cuts the front yard in half and if Fannie Mae saw how there were poles put up and what the front view looks like, I think they would realize there was a problem. Anyhow, this huge sign which was also printed in our local newspaper, stated that Bank of America took our home and there was current legal action. When this family member questioned the realtor about the sign and legal action, the realtor told him, oh that, the previous owners put that up and this is Fannie Mae you are talking about, this is government. You can’t sue the government. The realtor then laughed. Realtor also told family member that the house had been foreclosed from over a year ago. We had just been evicted 2 months earlier. As I pursued everything I knew to show them the errors Fannie Mae and Bank of America pushed even harder. I went onto Fannie Mae website and submitted complaint about Bank of america and Fannie Mae and fradulent actions between them both. After about 3rd conversation they got really aggravated. On last conversation, I informed Fannie Mae representative that I was going a different route this time. Our family was going as far as pursuing this with our government officials and I was bringing doXXXXentation to Washington DC myself. Fannie Mae representative informed me that if I pursued this route that we would more than likely not get our house back. So question was do I go to government officials and risk not getting house back because of this ?threat,
?intimidation by Fannie Mae? You bet I went to Washington DC. At that moment I became more determined. Who gives them the right to tell me of what they could do if I complain to our government officials? I requested the recording of this conversation from the gentleman i talked to at Fannie Mae and he refused and stated I would have to get my attorney to do this. This is not just about our home, this is about our rights, our freedom and what America is suppose to stand for and that is, “We the People”. God Bless America.
CEO: Timothy J. Mayopoulos. I have been trying to get a resolution for almost a year to a deed of easement on a property that Fannie Mae owns. I had this easement put in 10 years ago when I owned the property. I have contacted the Realtor, and the Attorney assigned to the property and Chanel a representative with Fannie Mae. Still, no resolution. When you call to speak with someone, you always have to leave a message and you may get a call back in several days or you may not until you call again and leave a message for someone to call you. This is so unprofessional. I tried to fax a letter to you, Mr. Mayopoulos and it was not going through. When I called headquarters and was transferred, the gentleman I spoke to was very RUDE.
Fannie Mae is screwing everyone, from home owner to realtors, closer, asset managers, vendors, tax payers and government, they are special persons who are appointed as a officer for special interest group.
Fannie mae is screwing us right now, we are trying to buy a house from them but they cant get their paperwork done ( all of which should have been done before they listed it) WE just want to close and move in, not pay more fees they refuse to pay because of their incompetence.
Mr. Maypoulos,
As a real estate Broker, I am offended at how your REO’s are handled. They are handled without ethics or concern for buyer’s who are trying to buy your properties. If I handled my real estate business as you handle yours, I’d be in jail and facing additional ethics charges.
a Fannie Mae property leaked water into our condo unit and did $14,000 worth of damage to our unit. Fannie Mae has not dealt with us in a transparent manner. We have not been assigned a contact person at Fannie Mae, no claim number, no phone numbers, no updates on the status of our claim–only rudeness and NO ANSWERS TO OUR QUESTIONS! Our condo is full of mold causing a hazmat situation. We cannot live in our own place because it is unsafe due to Fannie Mae negligence!
I have to add all the housing fraud that took place was done by fraud the fact is no lawyer will go against another lawyer or judge due to they have to work in and with them in courts. I was physically moved out by force march 15, 1994, purchased house as husband and wife loan together but back then ya I was self employed had the better credit, Due to being self employed decided to have mortgage be applied in only my husbands name ya In Iowa even though mortgage and attorneys allowed all loan company apple mortgage sold out to fleet mortgage ya didn’t even know who I was abstract all sent directly to me, I was given warrentee deed as husband and wife with full rights of survivorship . Oh ya funny even though legally I got a deed deeded to me as owner but I was never responsible to pay loan,
Our house was foreclosed upon in 2009. I have written letters,sent emails regarding our situation from day one. The majority was sent to BOFA but some were sent to Fannie Mae. To be honest I never was quite sure who to talk to. Was it FM or Bofa? I don’t really know because I was referred to by both. I know that FM is the investor and Bofa is the lender. Atlas reo was part of the equation. Inquiries sent to FM were forwarded to Bofa. So I did not ever receive a response directly from FM. Why is this significant? Sept 6,2012 there was a third party who made an offer to buy the property. At this time I then exercised our right of first refusal. Minnesota Statute 500.245. On Sept.10,2012 I received a call from FM lawyer. He tried several times during this conversation to get me to name a monetary amount to waive our rights. Sounds like a bribe to me. In all honesty I believe I knew something they did not(the statute). After this phone call nothing was done to follow the statute. We did not receive a good faith letter. Nothing to follow the statute. I finally called the lawyer on Oct. 25,2012. I was told that price was no longer valid. I knew that was false. He also told me we should feel lucky we were getting a letter from FM (attorneys)? We received a letter dated Oct. 21,2012 from the lawyers stating they were putting the place back on the market. There was never an attempt to follow the statute. And I ask is FM not held accountable for such statutes. Then months went by and I’m still believing that FM was honest and follow the statute. What a fool I was. Feb.2013 it was put back on the market and the price was $166,000 (the price was $57,900 when we exercised our right) Now the lawyers send us a good faith letter. Knowing perfectly well we would not be able to get a loan. It was insulting,cruel and mean. We had complete legal right to purchase our place back in Sept. Why was our legal right ignored? Was it because the price was less than we owed? By chance I found on line the price? How petty and vindictive is that. We are not talking about a million dollar home
Why were we ignored and denied our legal right to purchase the property back?
Again I refer to the question who should we have contacted Fm or Bofa because it seems Fm would say Bofa. And Bofa would say Fm is who we talk to. It’s like both agencies passed it over to the other agency. I have been directing everything regarding our blatant disregard for this law to Bofa. But Bofa tells me I should be talking to FM. Why is it so difficult to state who I really should be speaking to.
We have over two years to file a lawsuit. I am not giving up. First of all our home should never been foreclosed upon. I tried many many times to resolve this and pay our debt. I was sent on wild goose chases as to who I spoke to. We had been reinstated but were never sent or called to confirm this action on Feb. 4,2010. None of what happened to us should never have transpired. We should be living in our home now.
And I ask why can not FM be honest and uphold our right of first refusal.
And honestly who do I speak to FM or Bofa?
I can not let this go. What was done to us was wrong. Make it right. Invalidate the other purchase and validate our right of first refusal. We even had talked to the bank .
FM has the power to make this right. Please make it right? I beg of you please make this right? We have suffered greatly from this injustice. To the point I quit my job.
Please don’t treat us like a piece of trash? Make this right
I have been in this home for 8 years now. The previous owner lost this house and continued to collect rent for over a year knowing that they were letting it fall to the wayside.
I became aware of the foreclosure only upon having a locksmith (From Keys Made Rite LLC) banging on my door and yelling at us about being squatters (His exact words were: “YOU PEOPLE ARE STILL F****** HERE? YOU ARE F***** SQUATTERS!”) He went on to threaten to change the locks if we ever left the house. I had to call the police to have him removed from the property. When he saw that the local police was on his side and refused to remove him he laughed hysterically. To top it off, he went to the upstairs unit to change the locks and my children, who were in the yard playing, heard him using profanity and using the “N WORD.”
I was informed about the Tenant Foreclosure Act and invoked that right. Since then, I can’t get any repairs done (the last repair was half done and still resulted in a leaking roof). Now that the house is up for sale I’m being ignored by the management company. I’m not sure who is responsible for maintenance or the collection of rent. The listing agent turned on the heat to the upstairs unit (which is connected to my gas line) and my heat is much much higher. There are huge chunks of ice hanging on the side of the house that melts when in direct sun light. Well, that water is leaking into the house now directly into the children’s bedroom.
Unfortunately, I don’t qualify for a home loan of any sort despite the fact that I’m $600 (far less than a mortgage would be for a 25k$ house) per month and could collect another $600 for the upstairs unit. I should have applied for a loan a few years ago when the loans were being thrown away to anyone, everyone, including illegal immigrants. I simply don’t have the credit worthiness despite having paid rent and utilities for 8 years.
The Neighborhood Stabilization Program doesn’t help in this situation. There are no programs available to someone like me, my disabled wife, and children who have never known another home or school. I have been a good tenant! I’m the kind of renter that should be rewarded and not dealt a death blow.
Just last month a cleaning company (called SAFE GUARD whose not known for being anything but crooks) showed up unannounced and proceeded to open a closed gate and let themselves into the upstairs and the basement unit (connected to my unit.) When I came out to inquire of them the woman gave me a nasty attitude as if I wasn’t suppose to be here. She argued with me about her orders despite my insisting that I was a rent paying tenant. She even came back a couple of weeks later when I left the house on an errand. She claimed to have left smoke detectors. Well, upon inspection when showing the house to potential buyers I noticed that there were no smoke detectors other than the old cruddy ones that had been there for years and barely worked half the time. They were instructed to call first.
I have cared for this property as much as I could under these cirXXXXstances. I shoveled the tons of snow in the common areas, raked the leaves and cut the grass in the common areas, I paid to have the heating fixed, and I have even dealt with home seekers who showed up without a Realtor!
I’m not saying Fannie Mae should just right this home off. However, with an asking price of 25k and me having already paid almost 14k in rent then there has to be a way to RENT TO OWN this place to me and my family. Right now we are on a month to month and it is just as hard to rent as it is to purchase. We could be tossed out at any moment because the law isn’t on our side once someone buys.
It’s nice that Fannie Mae is recreating it’s image. But so far it seems like just an image and the little guy…the renter…is still being shafted.
THERE MUST BE SOMETHING THAT SOMEONE CAN DO!
im in the same boat, im the renters.. The owner lost house. im glad he gourmet properites never took care of house slumblords. I can’t get security deposit back and FM well no one knows about the property. I was at confirmation hearing. I ask lawyers of FM they said if interest in buying they will contact FM. I got nothing. .so how does this work if long time tenants not given a chance to buy. To me its bad business.still waiting for a call or letter.
Dear Sir,
Please have Timothy J. Mayopoulos David C. Benson or Pascal Boillat contact me as soon as possible. My number is 251-554-XXXXX or 251-414-XXXXX.
Many thanks,
Steve
CEO: Timothy J. Mayopoulos sir my name is Kenneth Cox. BofA is servicing our loan for you. I have made many phone calls and have been on hold for many minutes trying to find someone that has a clue about payoff. It is a simple concept to me,. I have read about what the government has done and what you all have done with the people that quit paying on their loans and the ones that buy these over priced homes then ask for a bail out. Sir we are one of the good guys and have ALWAYS paid our own way. I have made many calls to BofA and they do not have a clue. All I am asking to do is to make an reasonable offer to pay off our loan which you have and BofA services. I want to make an offer to pay off our loan on or before the 15th of NOV this year. The payoff is 59,994 and some change I want to make an offer to pay our loan off for the amount of 55,000 on or before the 15th of Nov this years. You and the government have helped out the freeloaders that try and think they deserve help how about helping out one of the good ones this time. I want to pay off the loan, I do not want to refi, or borrow anything I just want to pay off the loan for the amount I stated. Being since you have the loan (do not know how you all got it in the first place) I figure you are the ones to make this decision. Kenneth M. Cox Santa Fe Texas 409-925-XXXXX